Why banks should prepare their financial data for improved AI machine learning

Burdened with outdated legacy systems and the rise of advanced fintech banking options, banking executives continue to seek out new ways to boost margins and embrace the technological disruption prevalent in their industry. While the promise of artificial intelligence signals new opportunities for robust growth, it's important for banks to first ensure they have all their data organized and ready to use for the prerequisite machine learning necessary to ramp up an AI system. While popular culture has been predicting the coming of advanced AI for decades, it's taken a bit longer for reality to catch up to the movie magic. But now AI is a major part of society and business, as consumers comfortably talk to their Amazon Echoes or easily discuss their daily schedules with Apple's Siri. "Some analysts dubbed 2017 as the Year of AI in banking." Beyond the personal assistant, another place AI has planted a firm foothold is the banking sector.